Questions about your bonus or annual statement? We can help.
We understand that our members are keen to find out how their plans are performing, including details of any bonuses that they may be due to receive. That means that many of you get in touch with us around the time that annual statements are released with questions about your bonuses and statements.
We thought it might be helpful to pull together some of the most frequent questions you ask and put them all in one place for you. That way, if you have a question regarding your bonus or annual statement, you can get an answer instantly.
Of course, if you can’t find the information you are looking for below, please do feel free to contact our Member Services team, who will be more than happy to help. You can reach them through our online support form: shepherdsfriendly.co.uk/help-and-support/. Also, if there’s anything you think we’ve missed, please let us know and we can add this to the FAQs (Frequently Asked Questions) below.
Bonus and Annual statement FAQs:
How can I see my bonus and the current value of my plan?
You will receive your annual statement through the post, and this will include the current value of your plan, any payments that you have made, and the bonus that you received in 2024.
When will my bonus be applied?
Annual bonuses cover the calendar year, so will apply to investments up to 31st December 2024. We know that your annual bonus is important, and our members eagerly anticipate the announcement of this each year. We aim to make this announcement as soon as possible. This process is undertaken by our actuaries, who calculate annual bonuses based on the performance of the With-Profits fund, before being approved by our Board of Directors.
Annual statements for all our plans will be sent out by post, and will explain the current value of your plan, including any annual bonuses.
Please be assured that the time it takes to carry out this process does not impact on the overall value of your investment in any way. Any bonuses related to future performance after 31st December 2024 will be considered at the time of the plan’s maturity, or the next annual bonus, whichever is soonest.
Why do different plans receive different bonus rates?
All of our current With-Profits plans are invested in the fund, and we work hard to be able to pay all members a bonus. Each plan has different features and charges, which have to be considered so that we can ensure all members receive their fair share of the fund growth. For example, some plans have Life Insurance built into them, so that your loved ones receive a lump sum in the unfortunate event that you pass away. Bonuses are paid after any charges, which means that some plans may receive different bonuses, depending on the features of each plan.
When do I get my 5 Year Fixed Rate Bond Statement?
We send out statements for our 5 Year Fixed Rate Bond once a year. This year’s statement covers the period from 1st January to 31st December 2024. Your interest is calculated daily, and your statement gives the value of your plan up until 31st December 2024.